Key Points
- Director Steven Denbaars sold 12,500 Aeluma shares on August 26 at an average price of $13.84, generating $173,000. His remaining stake fell 3.38% to 357,709 shares.
- Aeluma shares opened at $13.14 and were reported down 5.6%; the stock has a market capitalization of $240.59 million and trades well below its 12-month high of $31.79.
- Analyst opinions remain mixed, but the consensus rating is “Moderate Buy” with an average price target of $25.00. Several institutional investors have recently initiated or increased positions.
Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) Director Steven Denbaars sold 12,500 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total transaction of $173,000.00. Following the transaction, the director owned 357,709 shares of the company's stock, valued at $4,950,692.56. This represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Aeluma Stock Down 5.6%
ALMU opened at $13.14 on Friday. The company has a market capitalization of $240.59 million, a price-to-earnings ratio of -37.54 and a beta of 4.18. The firm has a 50-day moving average price of $17.11 and a 200-day moving average price of $18.22. Aeluma, Inc. has a twelve month low of $10.24 and a twelve month high of $31.79.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Aeluma from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Aeluma in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Aeluma currently has a consensus rating of "Moderate Buy" and an average price target of $25.00.
Get Our Latest Stock Analysis on Aeluma
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in shares of Aeluma during the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Aeluma in the fourth quarter valued at approximately $27,000. Quantbot Technologies LP purchased a new position in Aeluma during the third quarter valued at approximately $29,000. BNP Paribas Financial Markets grew its stake in Aeluma by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company's stock valued at $31,000 after acquiring an additional 855 shares in the last quarter. Finally, Osaic Holdings Inc. bought a new stake in Aeluma during the 2nd quarter worth approximately $32,000.
Aeluma Company Profile
(
Get Free Report)
Aeluma, Inc develops optoelectronic and electronic devices in the United States. The company manufactures semiconductor materials and chips using compound semiconductors on diameter substrates that are used to manufacture mass market microelectronics. It offers its devices for use in mobile, automotive, AI, defence and aerospace, communication, AR/VR, and HPC applications, as well as laser emitters, transistors for integrated circuits, quantum photonic circuits, and solar cells applications. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
